Q3 2024 Earnings Forecast for Gildan Activewear Inc. Issued By National Bank Financial (TSE:GIL)

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Equities researchers at National Bank Financial cut their Q3 2024 earnings estimates for shares of Gildan Activewear in a research note issued to investors on Tuesday, October 8th. National Bank Financial analyst V. Shreedhar now anticipates that the company will post earnings per share of $1.14 for the quarter, down from their prior estimate of $1.15. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.55 per share. National Bank Financial also issued estimates for Gildan Activewear’s Q4 2024 earnings at $1.06 EPS, Q4 2025 earnings at $1.17 EPS and FY2026 earnings at $5.13 EPS.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.99 by C$0.02. Gildan Activewear had a net margin of 13.01% and a return on equity of 21.95%. The firm had revenue of C$1.18 billion for the quarter, compared to the consensus estimate of C$1.17 billion.

Several other brokerages have also commented on GIL. TD Securities raised their price objective on Gildan Activewear from C$46.00 to C$50.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Citigroup boosted their price target on shares of Gildan Activewear from C$44.00 to C$54.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Desjardins upped their price objective on shares of Gildan Activewear from C$63.00 to C$67.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. National Bankshares lifted their target price on shares of Gildan Activewear from C$58.00 to C$68.00 in a research report on Wednesday. Finally, BMO Capital Markets upgraded shares of Gildan Activewear to a “strong-buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Gildan Activewear currently has a consensus rating of “Buy” and an average target price of C$56.00.

Gildan Activewear Stock Performance

Shares of GIL stock opened at C$64.17 on Thursday. Gildan Activewear has a 52-week low of C$37.78 and a 52-week high of C$65.14. The company has a quick ratio of 0.87, a current ratio of 2.35 and a debt-to-equity ratio of 72.52. The stock has a market cap of C$10.43 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64. The business has a 50-day simple moving average of C$60.01 and a 200-day simple moving average of C$53.71.

Gildan Activewear Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, August 22nd. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.28. This represents a $1.12 dividend on an annualized basis and a yield of 1.75%. Gildan Activewear’s payout ratio is presently 33.94%.

Insider Activity at Gildan Activewear

In related news, Director Michener Chandlee bought 1,196 shares of the stock in a transaction dated Thursday, August 8th. The shares were acquired at an average cost of C$40.85 per share, for a total transaction of C$48,856.60. In related news, Director Michener Chandlee purchased 1,196 shares of Gildan Activewear stock in a transaction dated Thursday, August 8th. The shares were acquired at an average price of C$40.85 per share, for a total transaction of C$48,856.60. Also, Senior Officer Benito Masi sold 50,000 shares of Gildan Activewear stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$41.55, for a total transaction of C$2,077,495.00. In the last quarter, insiders sold 101,620 shares of company stock valued at $4,870,471. Corporate insiders own 2.26% of the company’s stock.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.